US Department of Commerce recommends imposing 53% tariff ... Mon 19th Feb 2018 02:04 GMT
Samir Noaman, head of the commercial sector at Ezz Steel, told Daily News Egypt that this is just a recommendation and that the company will not deal with this issue before an executive order is issued by Trump in this regard. Noaman explained that the [see article
]China may retaliate if US imposes tariffs on metals Sat 17th Feb 2018 11:46 GMT
steel bars onto a truck at warehouse in Tangshan in Chinas Hebei province. The US may impose quotas on imports of aluminium and steel, including a tariff of at least 24% on steel imports from all countries, US Commerce Secretary Wilbur Ross said [see article
]Tata Steel pips JSW Steel in race for Bhushan Steel Sat 17th Feb 2018 00:00 GMT
Tata Steel has offered Rs 35,000 crore to the lenders of Bhushan Steel as well as a 12% equity stake in the beleaguered company. With this, the Tata Groups flagship company has emerged as the lead bidder for the debt-laden alloy maker that is going through bankruptcy proceedings, according to a source familiar with the matter. Tata Steels offer has trumped rival JSW Steels bid of Rs 29,700 crore. Bhushan Steel has a debt of Rs 50,000 crore, of which it owes Rs 44,000 crore to lenders [see article
]U.S. Commerce Wants Aluminum Tariff-Quota on Imports Fri 16th Feb 2018 20:06 GMT
Shares in U.S. aluminum and steel companies from Alcoa Corp. to Nucor Corp. surged after the U.S. Commerce Department recommended that President In a briefing with reporters on Friday over the results of his department's investigation, Commerce Secretary Wilbur Ross proposed a 24 percent global tariff on steel shipments coming into the U.S. and a 7.7 percent duty on aluminum imports. Trump has the latitude to choose between these types of options or even enter talks with producers to find solutions [see article
]10-month sponge iron output nears 16m tons Fri 16th Feb 2018 16:00 GMT
The country has witnessed a boost in steel production and is targeting an output plateau of 55 million tons per year by 2015. Currently, Iran produces nearly 18 million tons, which is one percent of the global total. An IMIDRO statement says exports are [see article
]Preparation for restart of Georgetown mill Fri 16th Feb 2018 00:00 GMT
Liberty Steel, part of the GFG Alliance, is to begin recruitment for its recently-acquired mill at Georgetown, South Carolina, as it prepares to re-open the iconic plant and begin a new era for steelmaking in the state [see article
]HRH The Prince of Wales reignites furnace Fri 16th Feb 2018 00:00 GMT
His Royal Highness, The Prince of Wales, will today (February 16th) mark a major milestone in the revival of Britains steel industry when he formally reignites the iconic N-Furnace at Liberty Speciality Steels in Rotherham, South Yorkshire [see article
]ArcelorMIttal mulling 600 MW solar farm in Karnataka Fri 16th Feb 2018 00:00 GMT
The land in Karnataka was originally allotted to ArcelorMIttal for a proposed $6.5 billion project to set up a 6 million tonne greenfield steel plant [see article
]Ex-Zisco Steel players extend hand to Gwesela Thu 15th Feb 2018 20:41 GMT
FORMER Ziscosteel players yesterday came to the rescue of ailing ex-Zimbabwe Saints hitman Richard Gwesela Ndlovu by donating groceries and money to assist settle his medical bills. The ex-Ziscosteel duo of Mandla Mpofu, now Highlanders assistant [see article
German Economy Minister Criticizes US Proposals to Increase ... Mon 19th Feb 2018 08:31 GMT
Last week, US Commerce Secretary Wilbur Ross recommended to impose a 53-percent tariff on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam [see article
]MIDEAST STOCKS-Gulf sluggish as Waha cuts dividend; big ... Mon 19th Feb 2018 07:10 GMT
In Egypt, the index climbed 0.8 percent as Commercial International Bank added 1.1 percent. Al Ezz Dekheila Steel, which has doubled in price since November, partly because of improving prospects for the Egyptian economy, surged a further 10 percent [see article
]Steel Stocks Take Flight as DOC Proposes Tariffs on Imports Mon 19th Feb 2018 06:13 GMT
The other proposed alternatives are at least 53% tariff on all steel imports from Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam with a quota by product on steel imports from all [see article
]Press Release: SMA Comments on U.S. Department of Commerce ... Mon 19th Feb 2018 00:00 GMT
Washington. D.C. Steel Manufacturers Association (SMA) President Philip K. Bell issued the following statement in response to the Commerce Departments release of the report on the U.S. Department of Commerces investigations into the impact on our national security from imports of steel mill products [see article
]Steel Stocks Soar on Reports of Commerce Department Push ... Sat 17th Feb 2018 04:43 GMT
The Commerce Department will recommend wide-ranging tariffs on steel and aluminum imports, according to Axios. The reports have sent steel stocks soaring in trading Friday [see article
]Press Release: U.S. Department of Commerce Releases Section ... Fri 16th Feb 2018 00:00 GMT
WASHINGTON Today Secretary Wilbur Ross released reports on the U.S. Department of Commerces investigations into the impact on our national security from imports ofsteel mill products and from imports ofwrought and unwrought aluminum.These investigations were carried out under Section 232 of the Trade Expansion Act of 1962 [see article
]UK watchdog slow to stop 'vulture' advisers ripping off ... Thu 15th Feb 2018 00:00 GMT
By Huw Jones LONDON Reuters - Britain's markets watchdog was too slow to prevent vulture financial advisers from ripping off steelworkers faced with critical decisions over their 14 billion pound [see article
]Man plays steel-made Chinese violin Wed 14th Feb 2018 00:37 GMT
A coal worker plays a traditional Chinese violin made of steel and connected to an electric welder in northern Chinas Pingdingshan, Henan province. The footage, captured on January 26, shows sparks coming out of the instrument as the man rubs the violin [see article
]IBC resolution: JSW-Monnet deal under scanner due to ... Wed 14th Feb 2018 00:00 GMT
JSW Steel was inching closer to sealing the deal for Monnet Ispat, but the deal is already under scanner. ET NOW's Nayantara Rai learns from sources that creditors have put JSW's bid for Monnet Ispat under the scanner as there is a close family connection between the promoters of the two companies. A committee of creditors is to take legal opinion on JSW bid for Monnet Ispat to check if this bid for Monnet Ispat is a related party transaction or not. Here are the details [see article
]BHP Billiton takes 1.3bn tax hit in the US Tue 13th Feb 2018 22:17 GMT
BHP is awaiting the outcome of a case in Brazil to decide the final compensation due following the fatal accident at Samarco in 2015. A dam at the iron ore mine collapsed, killing 19 and flooding a river valley. Prosecutors had been looking for billions of [see article
SELECTED STEEL INDUSTRY MAPS
Middle East DRI plants
For other steel location maps, visit our steel industry maps page.
STEEL PLANT CAPITAL INVESTMENT COSTS
BOF SLAB PLANT
All cost estimates are in 2016 US dollars.
For further info visit our steel capex page.
Capital costs describe investment for an integrated slab plant with continuous casting, typically with coke, sinter etc. Representative investments include:
- CSA slab mill investment in Sepetiba, Brazil
- CSN investment in Itaguai, Brazil
- CVRD-Baosteel joint venture in Vitoria, Espirito Santo in Brazil
- Sinosteel Corporation's investment in Jharkand, India.
Average cost: $4300m
Average capacity: 4210 kt
Sample size: 12
Average cost/tonne: $1050/t
INTEGRATED HOT STRIP MILL
All cost estimates are in 2016 US dollars.
For further info visit our steel capex page.
Chart describes investments in ore-based integrated steel plants with hot strip production and sometimes other additional downstream rolling capability. Typical examples include:
- Wuhan Iron & Steel investment in Fangchengang Port in China
- ArcelorMittal investment in Karnataka, India
- Tata Steel joint venture with VSC & Vicem for investment in Vung Ang in Vietnam.
Average cost: $7560m
Average capacity: 6660 kt
Sample size: 16
Average cost/tonne: $1200/t
Analyses above were last updated in January 2016. For further item-specific capital investment data see our steel capex database page.
Chart above shows current employment levels at 114 different steel firms around the world - companies that make flat, long and/or tubular carbon steel products.
An average steel producer with a production capacity of ~3 mt steel/year typically thus has ~4000 employees. If your steel company employs more than this, please call us - our technical experts can assist with steel plant productivity improvement.
To discuss the interpretation of this chart and/or further information (including employment benchmarks for specialty steel production) please email us at the address shown at the foot of the page.
INDUSTRY SUPPLY & DEMAND FORECASTS FOR YEARS 2017-2018
Table below shows global crude steel production volumes and capacity figures - as assessed by World Steel Association and by the OECD to 2018 - and resulting calculation of steelmaking capacity utilisation. The overall picture for 2018 as compared to 2017 is that of a tiny reduction in the global capacity surplus [which will fall from ~602mt to ~598mt] and a small but significant improvement in world capacity utilisation at the crude steel level.
Source: MCI analysis. Table last updated 15-Nov-17.
Graph below shows the relationship between steel prices and the global level of capacity utilisation - and indicates (both for HRC and for rebar) that prices fall ~$27/tonne per 1% drop in capacity utilisation.
In 2017, on the basis that world capacity utilisation remains largely at 2016 levels of approx 67.4% (see table), MCI's consultants expect steel prices to remain at 2016 levels.
In 2018, assuming a very small improvement in global capacity utilisation, we forecast just a tiny increase in steel price levels of the order of $5/tonne (hot rolled coil and reinforcing bar). For other products and / or for steel price forecasts through to 2020, please contact us.
OTHER USEFUL METAL INDUSTRY WEBSITES
Why not check out the following websites?
American Metal Market (AMM) at www.amm.com
Steel Guru at www.steelguru.com
SteelOrbis at www.steelorbis.com
Metal Bulletin at www.metalbulletin.com